Designation of CFZ’s

(1) The NFZA shall establish by regulations, the procedure by which public or private parties may apply for CFZ designation or for designation as a CFZ developer. (2) The designation of a CFZ or a CFZ developer shall be by a majority of total membership of the Board, excluding the Coordinator. (3) The designation of a CFZ and of a CFZ developer shall be subject to negative resolution of the National Assembly. (4) Notwithstanding sub-section (1) of section 5 of this section, the Minister may, if he considers it expedient and with the approval of the Cabinet, and subject to the same conditions as of the NFZA, designate any area in Belize to be a commercial free zone for the purposes of this Act, or designate a CFZ developer, and every such designation shall have the same effect as if made by the NFZA and shall be subject to negative resolution of the National Assembly.